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Philip Morris International Inc. (PM)

NYSE:PM

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Philip Morris International Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Philip Morris International Inc. (“Philip Morris” or the “Company”) (NYSE:PM) of the February 20, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Philip Morris stock or options between July 26, 2016 and December 20, 2017 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Philip Morris securities between July 26, 2016 and December 20, 2017 (the “Class Period”).  The case, Rubenstahl v. Philip Morris International Inc. et al, No. 2:17-cv-13504 was filed on December 21, 2017, and has been assigned to Judge Esther Salas.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failing to disclose that: (1) there were irregularities in the clinical experiments that underpin Philip Morris’ application to the Food and Drug Administration (“FDA”) for approval of its iQOS smoking device; and (2) as a result, the Company’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.

Specifically, on December 20, 2017, Reuters published a report stating, in part, that “[f]ormer employees and contractors [of Phillip Morris] have detailed irregularities in the clinical experiments that underpin Philip Morris International’s application to the FDA for approval of its iQOS smoking device[.]”  On this news, Philip Morris’ share price fell from $108.12 per share on December 19, 2017 to a closing price of $104.37 on December 20, 2017—a $3.75 or a 3.47% drop.

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  • Case:
    Philip Morris International Inc. (PM)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 12/26/2017

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